At a seasonally adjusted annual rate of $697.4 billion, new construction starts in February dropped 3% from the previous month, according to Dodge Data & Analytics.

The Dodge Momentum Index lost 4.4% in February, falling to 146.9 (2000=100) from the revised January reading of 153.6.

The value of new construction starts in January advanced 2% compared to December, reaching a seasonally adjusted annual rate of $722.5 billion, according to Dodge Data & Analytics.

The leading U.S. metropolitan areas for commercial and multifamily construction starts registered a varied performance during 2018 compared to the previous year, according to Dodge Data & Analytics.